Question text Feedback a. b. Question 1 Select one: d. marketing concept Further, being a board member is not a full-time role, and board members likely have multiple other commitments that constrain the amount of time and energy they can spend on board activities, which might make it difficult for the CEO to attract the boards focused attention. 2. HTn0+xZ,+6;t@|vPb%],~$ef$2)O>Tj1RDF'QF You could only [process] 50 pages, not 500. d. Corporate d. Intervening board. On others, the prevailing view is the extreme opposite: their job is to wait for management to come forward with its strategy and to either approve it or not. endstream endobj 49 0 obj<>stream different customer opportunities. Not flaggedFlag question &-C0Npby{62uU6 Question 38 Skilled employees d. competitive model. The strategy comes to it fully baked and all it can say is either: "Yes, we agree" or "No, we don't." The latter is, plainly and simply, a no-confidence vote and leads directly to the same place. 0000007462 00000 n Q:@,qE : ~I}PTo`DW6'a+JSrh/P|%=8?h0UJB_htI'e('zF%)rpD$u*d]@hEvjx$ r6#>$YHxa4:) 3CT=-W7oTPgM6%*+m '4Ky).3r- thUi24.fbX :N.}%|Z4'|8> dx.&N'd)r5MC=\uI#%{4RNhVf>MoM),02Y87f[aMG8=&AZs;68%[ rk Corporations run best when the board and senior management hold the same perspectives on strategy, priorities and risk management. b. mission statement analysis 59 0 obj<>stream a. strategies Is the CEO naturally perceived as being open and receptive to differing viewpoints, or does the CEO have a domineering presence? She is a subject matter resource to public and private company directors and committees on several governance, strategy, and risk-related topics, as well as on timely and emerging topics that pose challenges to companies. At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. The mitigating factor, to the extent that it exists, is the degree to which the board and CEO desireand actively work towarda partnering relationship rather than an unequal one. Participation on a board is too often thought about as merely a series of board meetings. The structure of a public companys board of directors is established by its: 10. Not flaggedFlag question She is based in Santa Barbara, CA. Select one: Ideally, as staff and board engage in the process, they commit to measurable goals, approve priorities for implementation, and also make a plan to revisit the strategy on an ongoing basis as the internal and external environments change. Since their authority and power depend on the boards goodwill, why should CEOs increase their risk of losing that goodwill any more than necessary? 3hS&A=|0/989LN3wnJB\H ("S!3uL#r>~&F v{LN w @L }Kv6B8B c. integrated marketing communications (IMC) On some of my friends boards, the prevailing view is that strategy is their job and they insist on having board strategy retreats during which they set strategy. As he said, Our recruiting methods have changed dramatically to become a more thoughtful strategic process. Policy Governance, an integrated board leadership paradigm created by Dr. John Carver, is a groundbreaking model of governance designed to empower boards of directors to fulfill their obligation of accountability for the organizations they govern. are best associated with: ;_D{BXn9du: Not answered c. Chief executive officer. Capabilities are highly mobile across firms. 1. The primary mission of a public company is to _________. Think about it very carefully. Investment Analysis and Portfolio Management Fundamentals of Business Management Fluid Mechanics Database Systems: Design Implementation and Management Social Psychology understanding macroeconomics SILKE: South African Income Tax Notes on Directing Digital Fundamentals Strategic Management The Law of Contract in South Africa Economie/Economics c. intervening board consumer market from 10 percent to 15 percent in one year. What is wrong with this advertising Copy a customized link that shows your highlighted text. Question text Operating board. The Rt Hon Grant Shapps MP, Secretary of State for Business, Energy and . What actions must be taken to make the compensation committee effective? Select one: I feel completely different about that. When you read a two- to three-page summary instead of a deck of slides, you get a much stronger flavor of the CEOs position and what it is that the CEO wants to discuss., Varying the presentation of information can also be essential. Composition-complacency can inevitably lead to a board losing its strategic mojo. Not answered c. prime director One director who is also a governance committee chair declared that board recruitment was one of his most important tasks. Market-penetration, product-development, and market-development strategies would all be Not answered a. a duty to keep proper accounting records b. a duty of care Select one: It's very easy for a CEO and a CEO's management team to fall into a routine of information preparation that is always the same in its nature, cautioned one director. c. Firms in given industries, or given industry segments, are assumed to control similar strategically <br><br>Most recent accomplishment is serving on the exec team of a new challenger bank, to build the company from the ground up, gaining a banking licence in December 2019 and launching during 2020 . Everybody needs to be informed at the same level.. Skill sets need to be thought of as a moving target, said a director. To respond effectively and provide value delivery, the company requires ________ to integrate c. a mixed CEOs can convey their openness and humility to the board in many ways, but it requires the courage to be willing to engage in an authentic exchange. 0000002569 00000 n Select one: Feedback Email a customized link that shows your highlighted text. c. Strengths, d. Opportunities (Its important, however, to suit ones tactics to the audiences preferences. Not answered must carefully plan for and identify strategies to mitigate cyber-related risks. Advising a CEO to be fearlessly transparent with his or her board is a pretty tall order. 0000002073 00000 n @g Boards play an integral role by serving as advisers to senior management and the overall organization. Operating board. The correct answer is: It is an objective more appropriate for a marketing plan. For a competitive firm, if any level of production results in losses, the loss-minimizing output level is when: A. marginal product equals marginal cost B. marginal revenue equals marginal cost C. In the past, the community relations function was deemed a(n) ________ between the organization and its immediate community. _____________. Not flaggedFlag question b. Tony developed the following objective for his advertising plan: Increase market share in the 2 Nov 2022 Sustainability How to shift strategy for a new geostrategic era in 2023 13 Dec 2022 Geostrategy Be honest about our shortcomings. By practicing "self-activism" challenging assumptions, offering counterarguments, and closely monitoring execution boards can help develop a strategy to succeed in the modern age. d. Risk assessment. Marked out of 1. Eventually, some conclusions are drawn. What about the other extreme where the board simply declares yea or nay to the CEOs strategy? HR=0SiqI))( ]g`hVS}V\qyT@)Ws(c#_Tkhx11sXhi Pl67f+(mC;fxJKI i%]cj0RJK*-^HHV`Mft&P pRCXbK{D+K-()*lNbjwOY|b_U6ZCnN9pi_zup=}12Mqcpv:AYirKX G;z%)/0\vVBQTmc(s[gDEqc@|p!?ey|qmdD9VB|zlAa';\4G#8N#5D[6Y4+k/+ QB For CEOs, the board of the future is strategic, 4. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. Marked out of 1. If not, what do you need? They can show boards they are interested in dialogue by the manner in which they respond to input and feedback, as well as how they give feedback to the board, both collectively and to individual board members. But with the preceding steps, the board is in alignment with the challenges to be solved and has seen and provided advice on the range of possibilities from which the recommendation has been drawn. Which of the following statements about. Course Hero is not sponsored or endorsed by any college or university. A CEO clearly in charge with a board helping to provide sage advice is the perfect combination for boards and strategy. Not flaggedFlag question Why todays best leaders are flexible, not steadfast, Deloitte Insights, October 17, 2017. An effective catalyzer, I work behind the scenes with an unwavering commitment to people and impact. Feedback Insurance payable to the directors and officers of a company if they get sued for. Marketing management a. integrated marketing (IM) Question 5, Select one: the Competition and Markets Authority's report into the children's social care market. Thats not always the case, said a corporate governance professor. governance refers to the implementation of policies, procedures, and processes by which an organization is being governed. This doesnt necessarily mean interacting with the board or a board committee as a group. Cultivating a sustainable and prosperous future, Real-world client stories of purpose and impact, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. They can resist the urge to present only fully formed strategies, and instead mobilize the board around ideas that might still only be half-baked. business-- the investment-- are more than matched by the revenue produced in return? Not flaggedFlag question Additional Support for Learning Project Board. One thing to make sure of is that we don't fall into a routine and cadence that takes away from the need to look into the future. Consider ways to change it up as an antidote to complacency., Perhaps most importantly, many CEOs touted the value of asking explicitly for feedback, through the lead director or chair if necessary, after every session: Whats working? Not flaggedFlag question Question text Not answered d. be valuable to customers. The correct answer is: Customer relationship management CEOs will likely be willing to be transparent to the extent they experience mutual respect, trust, and support. Question 17 The aims of the Strategic Management Board are: To ensure that the mechanisms and processes established for the production, maintenance and implementation of competence standard criteria, follow due process. A lot of the thinking and views that get shaped are ultimately the result of conversations in between meetings, observed one interviewee. a. leadership effectiveness Financial resources are made available to the board for all of the following. <]>> The first organization to bring a product or service to market is often referred to as the Question text c. Business To achieve this goal, they have had to focus on developing and implementing a strategy that focuses on ethical behavior, social value, innovation and . d. a duty to propose high dividends for shareholders Select one: a.buffer b.distraction c.irritation d.strategic. 4EG"t.yWmj21qdCCcQdj[`eP!2)H5m%ZAw8Fcj?fW}pi#i'_"avnPmq-NYeF @,SY3vx#B-6l]-Og(-3V t"IP. trailer b. horizontal Prepare for the change with open communication. Boards represent a unique wealth of strategic and leadership experience that CEOs should want to tap into. stakeholders., The most effective leadership style is ____ leadership. Objectives Rather, there is an imperative to embrace ambiguity as a means of survival and growth while articulatingand communicatinga clear vision to mobilize and unify the organization. List the principles and practices for ensuring the effectiveness of the, compensation committee as recommended by The Council of Institutional, Briefly discuss the criteria or benchmarks used by the compensation committee. The ability to motivate. The correct answer is: Ones ability to be flexible and think strategically. Not answered, Select one: HUn0+x$1}K{`,6vB4MELH;;;M%JoVNY9 eREA*^xMq9JO+y "AdP@~o Feedback The correct answer is: Board of directors. d. Network management A platform for serving communities and building trust. A board management software helps streamline meeting processes, and it helps keep the discussions, documents and other information remain secure and confidential. The correct answer is: the internal environment Core competencies Question text It behooves a CEO to recognize not only the legitimacy, but the need to take an active role in shaping their boards role and effectiveness. This study analyzes board leadership from a team production perspective as an antecedent to board strategy involvement in small firms. management implementation of board strategies and the board serving. While there is no shortage of advice on how boards can improve their effectiveness as the corporate and management oversight entity, there is far less written on how CEOs and boards can work together to enhance their relationship for strategic benefit. Others go so far as to ask their executive teams for feedback on how the board can better support the C-suite. 'The central role of the board is to co-create and ultimately agree on the company's strategy' (Casal & Casper 2014). x= y,B". Question 8 But where can CEOs find the sounding board they need without falling short of the extraordinary abilities that people find reassuring to attribute to them? Question 22 Marked out of 1. Suppliers and customers reward good corporate performance by ________. Feedback determine the organizations competitive weapons. To be a core competency, a capability must satisfy all of the following criteria EXCEPT _________. If the board feels it needs to do strategy for the company, it is prima facie evidence that it should fire the CEO. See how we connect, collaborate, and drive impact across various locations. 6. What is the CEOs personal effect on others? As a co-leader of Deloittes Chief Executive Program, Vincent supports the success of CEOs and business leaders throughout their career. View in article, This article is an independent publication and has not been authorized, sponsored, or otherwise approved by Apple Inc. iPad is a trademark of Apple Inc., registered in the United States and other countries. A friend who serves on a number of consequential public company boards came to my office not long ago to ask my opinion on something that had become a contentious issue across his boards. If the board is already more engaged, it may be beneficial to work with another individual, such as the boards chair or lead independent director, who can facilitate and intermediate strategic conversations to even greater effect. One of the first steps for CEOs is to step up. a. Feedback Benjamin, a managing director with Deloitte Consulting LLP, and a co-leader of Deloittes Chief Executive Program. Not flaggedFlag question Who better than the CEO to help identify what those specific skill sets (and mindsets) areand to anticipate what they should be in the future? The goal is not realistic. There may not, for example, be a unitary board. If the board is less engaged, the CEO may have more influence to increase the boards engagement by playing a dual role. Not flaggedFlag question Feedback Marked out of 1. The right approach is an iterative process in which the CEO is in charge, because it is the CEOs job to formulate strategy, but the CEO wisely gets the maximum amount of advice from the board assuming that the board has useful insights. c. a fiduciary duty Dont be too quick to cut off conversation in the boardroom instead of letting it play out, one director we spoke with advised. Select one: d. Legal counsel. Implementation, evaluation and control of a company's strategic plan is essential to operating a successful business. Implementing strategic plans requires strong relationships and, as a manager, you'll be in charge of telling people not only how to interact with each other and how often, but also who the decision-makers are, who's accountable for what, and what to do when an unforeseen issue arises. community activists, funding bodies, etc) Question text b. leader treatment The correct answer is: a positive a. The correct answer is: lead director major business processes (e., order processing, general ledger, payroll, and production) within a Question 36 Use real-life examples. It helps define the firm's long-term objectives, action programs and resource allocation priorities. One of our interviewees put a fine point on it: When a CEO complains about the board not doing much for them, in a sense, it is the CEOs own fault for not having taken advantage of the fact that the board can be an ally and a strategic consultant.. Social login not available on Microsoft Edge browser at this time. Strategy execution. Marked out of 1. 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